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The S&P 500 began the year selling at 18.2x forward earnings. It is now at around 15x projected earnings.
These stocks are deep in bargain territory.
Alarmist headlines about Facebook aside, the social media juggernaut still offers an avenue to make money.
Biotech ETFs could mitigate risk amid the sector's volatility, and names such as Exelixis, ANI Pharmaceuticals and Progenics hold promise.
The homebuilder shot up 30% on Tuesday after crushing earnings expectations and likely won't be the only bet to pay off in the sector.
Expect continued volatility in the near-term, but clearer skies are coming. Meantime, some names and sectors offer buying opportunities.